J.P. Morgan Asset Management Launches Active Fixed Income ETF: JPMorgan Income ETF (JPIE)

Rhea-AI Summary

J.P. Morgan Asset Management launched the JPMorgan Income ETF (JPIE), an active fixed income ETF focused on maximizing income while minimizing volatility. JPIE utilizes sector allocation shifts to invest in diverse debt securities, leveraging J.P. Morgan's Global Fixed Income Currency and Commodities platform. Portfolio Managers Norelli, Headley, and Hauser bring 75 years of combined experience. This new fund expands the active fixed income offerings to ten products, with J.P. Morgan ranking as a top seven ETF issuer in the U.S. and managing over $68 billion in assets.

Positive

• Launch of JPMorgan Income ETF (JPIE) expands active fixed income products to ten.
• Leverages expertise from Global Fixed Income Currency and Commodities platform.
• Portfolio managers have 75 years of combined industry experience.
• J.P. Morgan is ranked as a top seven ETF issuer in the U.S.

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• None.

NEW YORK, Nov. 2, 2021 /PRNewswire/ -- J.P. Morgan Asset Management today announced the launch of JPMorgan Income ETF (JPIE) ("the fund"), an active fixed income ETF which targets debt securities across the fixed income universe, seeking to deliver yield with lower volatility and attractive distributions. 

Using sector allocation shifts, JPIE invests in a wide variety of debt securities that have the potential to maximize income while reducing portfolio-level risk. JPIE draws upon the combined expertise of the firm's Global Fixed Income Currency and Commodities (GFICC) platform, providing the best ideas from diverse asset class expertise and broad investment capabilities.

"This current cycle has shown that passive fixed income investing has some limitations and may not be able to deliver the full range of portfolio stabilization, diversification and return enhancements benefits most investors now expect. In this environment, investors can benefit from intentional exposure to securities and sectors that active management can provide," said Bryon Lake, Global Head of ETF Solutions at J.P. Morgan Asset Management. "For when our clients need the active expertise to navigate macro and micro market challenges, JPIE uses a flexible, opportunistic approach that combines strategy and sector rotation, delivering a liquid, cost-effective and efficient way to build and manage a diversified fixed income portfolio."

The fund is managed by Portfolio Managers Andrew Norelli, Andrew Headley and Thomas Hauser, all of whom also manage the JPMorgan Income Fund (JMSIX) and have 75 years of combined industry experience (full bios below). The experienced managers bring high yield, securitized and macro backgrounds, and draw on the best income ideas of a global team of more than 290 investment professionals.

The launch of JPIE expands J.P. Morgan Asset Management's active fixed income suite to ten products, joining JPMorgan Ultra-Short Income ETF (JPST) which recently won Fund Intelligence's 2020 Fixed Income ETF of the Year¹. J.P. Morgan Asset Management also recently won 'Best US Fixed Income ETF Issuer' in 2021 from ETF Express².

J.P. Morgan Asset Management's full U.S. ETF suite consists of 38 products with more than $68 Billion in assets under management. J.P. Morgan Asset Management ranks as a top seven ETF issuer in the U.S. with respect to AUM³, and number two in net flows across active ETFs in the U.S. for 2021⁴.

Portfolio Manager Biographies:

Andrew Norelli, managing director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in Columbus, he is a portfolio manager for several multi-sector fixed income strategies, both benchmarked and unconstrained, and is a member of the Asset Allocation Committee for JPMorgan Investor Funds. Andrew focuses on portfolio construction, asset allocation, macroeconomic strategy, and global market dynamics. Additionally, Andrew's specialist knowledge of emerging markets and distressed credit resolution are integral to the assessment of global investment opportunities and proactive risk mitigation. Prior to joining the firm in 2012, Andrew spent eleven years as a trader at Morgan Stanley, ultimately serving as co-head of the firm's emerging markets credit trading desk from 2008 to 2012. Andrew holds an A.B. summa cum laude in economics from Princeton University.

Andrew Headley, managing director, is the Head of Securitized Strategies within the Global Fixed Income, Currency & Commodities (GFICC) group. Based in New York, he is responsible for overseeing the agency & non-agency mortgage-backed securities, commercial mortgage-backed securities, commercial mortgage loan (CML) investment teams and securitized credit research. He is also responsible for managing mortgage portfolios as well as developing and implementing mortgage strategies for multi-sector portfolios. An employee since 2005, Drew previously worked as a portfolio manager at Bear Stearns Asset Management, overseeing the mortgage and asset-backed sectors for the core fixed income strategies. Prior to this, Drew was a portfolio manager at Fischer Francis Trees & Watts (a subsidiary of BNP Paribas Asset Management) for eleven years, specializing in mortgage and broad market portfolios. Drew holds a B.S. in economics from the Wharton School of the University of Pennsylvania and is a CFA charterholder.

Thomas Hauser, managing director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group and is responsible for managing high yield investments for the Fund. Based in Indianapolis, he is a senior portfolio manager for GFICC High Yield Fixed Income Team and is responsible for overseeing high yield total return strategies, sub-advised mutual fund assets and absolute return credit products. Prior to joining the firm in 2004, Thomas was at 40|86 Advisors, most recently serving as a co-portfolio manager on three mutual funds and as the co-head of the Collateralized Bond Obligation (CBO) Group. Previously, Thomas worked at Van Kampen Investments co-managing several high yield mutual funds and leading the high yield trading desk. Thomas holds a B.S. in finance from Miami (Ohio) University and is a CFA charterholder.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of USD 2.7 trillion (as of 30 September 2021), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $3.8 trillion in assets and $290.0 billion in stockholders' equity as of September 30, 2021. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.  

J.P. Morgan ETFs are distributed by JPMorgan Distribution Services, Inc., which is an affiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMorgan Distribution Services, Inc. is a member of FINRA. More information is available at https://am.jpmorgan.com/us/en/asset-management/gim/adv/products/etfs.

Investors should carefully consider the investment objectives and risks as well as charges and expenses of an ETF before investing. The summary and full prospectuses contain this and other information about the ETF and should be read carefully before investing. To obtain a prospectus: Call 1-844-4JPM-ETF.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

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¹ Fund Intelligence 2020 Fixed Income of the Year (DETAIL)
² ETF Express 2021 Best US Fixed Income ETF Issuer ($1BN-$5BN category)
³ Data according to ETFdb.com as of 11/1/2021.
⁴ Data according to Bloomberg as of 9/30/2021.

 

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SOURCE J.P. Morgan Asset Management

FAQ

What is the JPMorgan Income ETF (JPIE)?

The JPMorgan Income ETF (JPIE) is an active fixed income ETF launched by J.P. Morgan Asset Management, targeting diverse debt securities for yield with lower volatility.

Who manages the JPMorgan Income ETF (JPIE)?

The JPMorgan Income ETF (JPIE) is managed by Portfolio Managers Andrew Norelli, Andrew Headley, and Thomas Hauser.

What is J.P. Morgan's ranking among ETF issuers in the U.S.?

J.P. Morgan ranks as a top seven ETF issuer in the U.S. based on assets under management.

How much does J.P. Morgan manage in assets for ETFs?

J.P. Morgan Asset Management manages over $68 billion in assets across its ETF offerings.

What is the primary investment strategy of JPIE?

JPIE employs sector allocation shifts to invest in various debt securities, aiming to maximize income while reducing portfolio risk.